BOScoin (10th May – 20th June)

2 March 2017Finished ICOsComments Off on BOScoin (10th May – 20th June)5,143 Views

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Overview

BOScoin is a Self-Evolving Cryptocurrency Platform for Trust Contracts. “Trust Contracts” will provide a decidable and approachable framework for creating and executing contracts on the blockchain. The “Congress Network” is aimed towards creating a more democratic and productive decision making process. And the incentive scheme and issuance plan is aimed towards creating value for the coin while deterring the centralization of power. The Modified Federated Byzantine Agreement algorithm will allow for low latency transactions while being more energy efficient. BOScoin aims to overcome the technical and operational issues inherent in many cryptocurrencies.

Trust Contracts

Trust Contracts are securely executable contracts based on a decidable programming framework called owlchain, which consists of the Web Ontology Language(OWL) and the Timed Automata Language(TAL). Trust Contracts aim to overcome the issues regarding non-decidable smart contracts by using a more contained and comprehensible programming framework which provides secure and decidable transactions of contracts.

The owlchain’s hierarchy was designed as a general blockchain model to accommodate multiple ontology models. The owlchain combines the feature of the reasoner and consensus protocol to handle the Trust Contract.

Congress

Democratic decision-making body for BOScoinBOScoin constitutes a governance system whereby node operators referred to as the Congress Network can participate in creating and voting on proposals in order to continuously improve the software and ecosystem. The Congress Network interacts with non-congress users in three ways; transactions, proposals and coin freezing.

1. TransactionsWhen a transaction of digital assets is requested by a user, the request is sent to the Congress Network. For a simple transfer of BOScoin, when a node confirms the block –roughly every 5 seconds– the user’s transactions will be confirmed, and the BOScoin will be transferred to another wallet

2. ProposalsProposals are Commons Budget spending plans that are submitted to the Congress Network. When a proposal is made, the ‘net percentage point difference’ between the positive and negative votes must exceed 10% for the proposal to be passed. When the proposal is passed, the requested coins will be sent to the proposer

3. Coin FreezingCoin Freezing is a Proof of Stake concept where if a user locks-in their coins and in return they will receive interest based on the number of coins frozen and the length of time the coins are stored. Frozen coins are used as collateral in case of attempted forgery of the blockchain

Issuance

New coins are issued in four ways; initial development budget (0.5bil, 10%), confirmation rewards(1.8bil, 36%), freezing rewards(0.9bil, 18%) and the Commons Budget(1.8bil, 36%). We aim to issue a total of 5.0 billion coins over the next 100 years. These values are subject to change.

Technical Roadmap

Pre-SaleWe carried out a pre-sale for about three months since November and is now closed.

Video

BOScoin Bounty Program

You can earn BOScoins by participating in any of our following bounty campaigns leading up to and during the ICO!

The complete bounty pool is 5,521,873BOS (equating to 2% of the BOS available at ICO or 138.047BTC) to be split between this program and technical reviews.

There are 5 bounty campaign categories you may wish to apply for. Each category will have a maximum allocated bounty pool:– Newsletter & Slack Subscription– Social Channel Activity Campaigns– Signature/Avatar Campaign– Community Manager Campaign (Pre-application is required)– Translations Campaign (Pre-application is required)

For each bounty application, you will need to submit a separate bounty application via an online form. The form is very simple and quick to complete and will assist us in determining the fairest way to distribute the bounties – Links to the application forms are available via the individual bounty campaign descriptions below.

The process we distribute the bounty differs slightly for each campaign, but nonetheless, it’s quite straightforward. Any remaining funds in the bounty after paying out all the bounties may be awarded to applicants who missed out (i.e. due to individual campaign bounty pool cap).

Please do not forget to apply once you have completed the requirement for the bounty!!

Below detail the requirements for each bounty category:

Newsletter & Slack Subscription (Bounty Pool = 1,130,000BOS)Join our Slack channel and subscribe for our Newsletter to receive a maximum of 120BOS*.(If you have already previously signed up either or both our Newsletter and/or Slack community, please do not forget to apply for this bounty!)

The bounty is available to the first 10,000 subscribers and will be allocated as below:– 150BOS for the first 3000 subscribers;– 120BOS for the next 3000 subscribers; and– 80BOS for the finals 4000 subscribers.

[Conditions]– The email address will be the same for both the Slack and newsletter subscription;– Only one account registration from the same IP;– The user must participate in the Slack community until the end of the ICO;– Any abuse will be banned and reported immediately.

[Bounty Distribution]– Applications which meet the above conditions will be awarded by a first-in-first-served basis, in accordance to the application submission.

Social Channel Activity Campaigns (Bounty Pool = 750,000BOS)Spread the words through your own channels!The various methods applicable to this Bounty program are below:

Twitter ActivitiesAvailable for Twitter accounts with 500+ followers.

Follow the BOScoin Twitter account and tweet/retweet on BOScoin to receive 200BOS*[Conditions]– Please note this is only available for Twitter account holders with 500+ followers;– The applicant must be following the BOScoin account for the duration of the ICO;– The tweet/retweet must be appropriate and not devalue BOScoin.

[Bounty Distribution]– Applications which meet the above conditions will be awarded by a first-in-first-served basis, in accordance to the application submission.

Facebook ActivitiesBounties are awarded for Facebook activities. There are 2 elements as below:

Like, Share or post (i.e. comment, status update) anything which promotes BOScoin or BOScoin ICO in a relevant manner via your Facebook account to receive 100BOS* per activity(capped at 300BOS per week and 1000BOS per applicant/person).

Like the BOScoin Facebook page to receive 40BOS*[Condition]– Applicant must remain liking the BOScoin Facebook page for the duration of the ICO.

Share/Like/Comment a BOScoin activity on Facebook to receive 20BOS*[Condition]– Applicants must have be liking the BOScoin Facebook page;– Any commentary must be appropriate and not devalue BOScoin (if applicable);– Only one comment per BOScoin Facebook activity will be awarded

[Conditions]The blog must:– have 300 words minimum;– include links to the BOScoin Slack and website (https://slack.boscoin.io/&https://www.boscoin.io/)– be publicly accessible;– have a minimum 200 views;– not manipulate the view counts;– be written in the same blog with over 5 previous appropriate posts (i.e. Cryptocurrency related);– promote BOScoin or the BOScoin ICO;– Quora blogs are excluded from this particular campaign.

[Conditions]The candidate:– must create 50 different posts with the avatar and signature;– must post relevant content and ensure suitability for the forum;– must ensure posts do not devalue BOScoin and our ICO;– must not change the Avatar or Signature during the ICO;– must not use multiple accounts or spam (anyone abusing the system will be reported to the appropriate mediators, permanently disqualified from the campaign, and banned from all other bounties)

[Bounty Distribution]– On a weekly basis, the bounty manager will review and provide a score on each candidate’s signature and avatars as below:Legendary/Hero: 10Sr./Full: 7.5Member: 5Jr. Member: 2.5– At the end of the ICO, you will be awarded the bounty based on your stake of the total points.

The Community Manager Campaign has two elements where you may be rewarded:1. Create and manage a country specific community room of 50+ membersCreate a community (e.g. WeChat and QQ for China, VK.com, Ok.ru for Russia, Line for Japan or a just simple Slack channel) with a total of 40 members to receive 15,000BOS*.

Community members will be registered on our website for as long as you wish, or until we deem appropriate (note this may extend beyond the ICO period).

[Condition]– Understand the basics of BOScoin (what it is and how it works);– Organize a country specific community (e.g. chat room, Slack, etc);– Manage the channel appropriately until the conclusion of the ICO (i.e. answer all questions appropriately, ensure BOScoin is promoted, etc).

2. Increase community sizeThe community manager will be rewarded 5,000BOS* if the community reaches 100+ members.

[Condition]– Creating and managing a country specific community is a prerequisite.

*Awarding of bounties may be withheld at the discretion of the BOScoin team – the circumstance would usually be due to conditions not being met. Additional bounties may be awarded in the event that there are leftover BOS in the complete bounty allocation pool.